Here are the transactions of Rock Medical Company a service

Here are the transactions of Rock Medical Company (a service company organized as a corporation), for the month of March. Record the following transactions for Rock Medical Company. Mar 1 Jim Rock invests $50,000 cash in exchange for common stock in Rock Medical Company. 1 Takes out a $5,000, 30-day short term note payable with an annual interest rate of 6%. 1 Purchases medical equipment on account from JK Enterprises for $22,800. 3 Pays rent for office space, $1,500 for the month. 3 Employs a receptionist, Michelle Kwin. 4 Purchases medical supplies for cash, $1,165. 10 Receives cash of $850 from patients for services performed. 15 Bills patients $11,560 for services performed. 21 Pays JK Enterprises on account, $7,600. 26 Receives $2,600 from patients on account. 30 Bills patients $6,890 for services performed. 31 Pays the following expenses in cash: Salaries and wages $2,500; miscellaneous office expenses $910. 31 Pays principal and interest on the note payable. 31 Medical supplies used during the month, $695. 31 Record depreciation expense on the equipment using the straight line method; the equipment has a 5-year life and no salvage value. 31 Record utility expense of $200 incurred for the month; bill not paid at month end Chart of Accounts: Cash Accounts Receivable Supplies Equipment Accumulated Depreciation—Equipment Accounts Payable Notes Payable (short term) Common Stock Note Payable Service Revenue Rent Expense Office Expense Salaries and Wages Expense Supplies Expense Depreciation Expense Interest Expense Utility Expense Income Summary Instructions

(e) Prepare closing entries and enter the transactions in the T-accounts (from part (b); journal entries can be handwritten or typed in Word/Excel; put on a separate page(s).

(f) Prepare a post-closing trial balance in EXCEL; use formulas to total the debits and credit

NEED HELP WITH \"E\" and \"F\"

Solution

Answer

(b)

(e)

(f)